|Assembly Actions - Lowercase
Senate Actions - UPPERCASE
|Jan 08, 2014||referred to investigations and government operations|
|Jan 09, 2013||referred to investigations and government operations|
senate Bill S540
Archive: Last Bill Status - In Committee
- In Committee
- On Floor Calendar
- Passed Senate
- Passed Assembly
- Delivered to Governor
- Signed/Vetoed by Governor
S540 - Details
S540 - Summary
Exempts the amount of any service award paid to any volunteer firefighter or ambulance worker from personal income tax.
S540 - Sponsor Memo
BILL NUMBER:S540 TITLE OF BILL: An act to amend the tax law, in relation to exempting the proceeds from service award programs for volunteer firefighters and ambulance workers from personal income taxes PURPOSE OF THE BILL: To correct an inequity with comparable benefits by providing that length of service award benefits for volunteer firefighters and volunteer ambulance workers be exempt from taxation. SUMMARY OF SPECIFIC PROVISIONS: Article 22 of the tax law regarding personal income is amended by adding new paragraph 3-d to subsection (c) of section 612. JUSTIFICATION: Service award programs were created, a means of aiding in the recruitment and especially the retention of volunteer firefighters and volunteer ambulance workers. There is no question that the retention of volunteers has been aided by the service awards provided by the enactment of the length of service program law. Unfortunately, the benefits in both the
S540 - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 540 2013-2014 Regular Sessions I N S E N A T E (PREFILED) January 9, 2013 ___________ Introduced by Sen. KENNEDY -- read twice and ordered printed, and when printed to be committed to the Committee on Investigations and Govern- ment Operations AN ACT to amend the tax law, in relation to exempting the proceeds from service award programs for volunteer firefighters and ambulance work- ers from personal income taxes THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Subsection (c) of section 612 of the tax law is amended by adding a new paragraph 3-d to read as follows: (3-D) THE AMOUNT OF ANY SERVICE AWARD PAID TO ANY VOLUNTEER FIREFIGHT- ER AND THE AMOUNT OF ANY SERVICE AWARD PAID TO ANY VOLUNTEER AMBULANCE WORKER FROM THE LENGTH OF SERVICE DEFINED CONTRIBUTION PLANS AND DEFINED BENEFIT PLANS APPLICABLE TO SUCH WORKERS, AS PROVIDED FOR IN ARTICLES ELEVEN-A, ELEVEN-AA, ELEVEN-AAA, AND ELEVEN-AAAA OF THE GENERAL MUNICI- PAL LAW; PROVIDED, HOWEVER THAT THE EXCLUSION PROVIDED IN THIS PARAGRAPH SHALL NOT APPLY TO A SERVICE AWARD THAT IS DISTRIBUTED IN THE FORM OF A LUMP SUM OR THAT IS DISTRIBUTED TO A TAXPAYER THAT HAS NOT ATTAINED THE AGE OF FIFTY-NINE AND ONE-HALF. S 2. This act shall take effect immediately and shall apply to taxable years beginning on and after January 1, 2014. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD02427-01-3
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